Ethereum and the broader cryptocurrency market experienced a sharp downturn following rising geopolitical tensions in the Middle East. Ethereum (ETH) has been showing red candlesticks for six consecutive days.
However, the famous crypto whale “Seven Brothers” with over $2.2 billion in assets acquired over 28,000 ETH (worth $66 million) during the recent $2,350 drop. This has left Ethereum investors in fear, uncertainty, and doubt.
Investors who doubted Ethereum's recovery are jumping on board with a new utility meme coin, CUTO, on the Ethereum network. Investors are getting into this new token early to maximize their potential for 100x returns.
Ethereum (ETH): Long traders continue to fall into the trap
Ethereum (ETH) has been trending down significantly since its 52-week high of $4,093.88 in March. Ethereum's current market price is $2,324.88. Over the past 24 hours. ethereum Prices fell significantly by 5%, and daily sales volume also fell by more than 12%.
Ethereum (ETH) value failed to break through the resistance level at $2,704.73, dropping more than 12% this week. Ethereum is trading below its 20-day and 50-day simple moving averages.
A relative strength index of 37 means Ethereum is in an oversold region. The bearish pressure should start decreasing here and the bulls may come with volume at the $2,249.88 support level. If this support fails, another support lies at the $2163.38 price mark.
However, the Moving Average Convergence Divergence (MACD) indicator crossed the zero line today, indicating that bearish momentum is increasing.
Cutushi (CUTO): Ethereum-based utility token set aiming for exponential growth
CUTO is attracting a lot of attention amid uncertain market trends due to its fun and practicality. Cutushi is a meme coin with a serious purpose: promoting decentralized finance (DeFi) culture.
Cutushi uses the appeal of memes to promote DeFi to the masses. It offers various practical DeFi features such as Cutshi DEX, Cutoshi University, Cutoshi Farming, NFT, etc. Cutshi Decentralized Exchange (DEX) is a multi-chain platform that allows users to securely exchange assets across multiple chains. More freedom, more privacy, and lower costs than centralized exchanges.
Cutshi Academy was founded to spread awareness about DeFi and make blockchain accessible to everyone. Most of the educational content will be free. The Academy will feature content related to DeFi concepts to help beginners gain confidence when entering the world of cryptocurrencies.
Cutushi rewards community members through token farming. This concept keeps engagement and fun, and allows users to earn bonuses.
Cutushi awards limited edition NFTs to members who participate in quests and challenges. These NFTs will have many unique features within the ecosystem. Members can keep these as badges of honor or exchange them for benefits.
At the heart of the ecosystem, the native CUTO token powers the entire platform. CUTO tokens are being sold for $0.015 in the first stage of the pre-sale.
Some experts predict that Cutushi will reach $1 in 2025. This means that early investors in this meme coin have the potential to earn a return on investment of over 3,000%. Therefore, $1,000 invested at this stage will be worth $30,000 if the token reaches the $1 price mark.
For more information on the CUTO presale, please see below.
https://cutshi.com/
Join our community and become a member:
https://twitter.com/CutushiToken
https://t.me/cutshi
This is a sponsored article. The opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before acting on the information presented in this article.
